Unemployment

Sure, its revenues might be plunging along with its share price, but the New York Times is still good for something.  In these somber days of winter, the Gray Lady, her name notwithstanding, can still inject the sunshine of humor—albeit of the unintentional variety.Take its current editorial, Getting Immigration Right -- please. With jobs at a premium and the collapse of the Big Three automakers…

In 2005, I sensed that journalists in general prefer to call this time of the year in commerce that of “holiday shopping” instead of “Christmas shopping,” but that when it came to people losing their jobs, they preferred to describe layoffs as relating to “Christmas.” My instincts have been proven correct during the past three years. So did anything change in 2008? Not that much, but slightly in…

It's special treatment for automakers, according to a former airline executive. Gordon Bethune, the former CEO of Continental Airlines (NYSE:CAL), now a CNBC contributor, told CNBC's "Squawk Box" on Dec. 19 the political process is being substituted for what otherwise should be a bankruptcy judge in determining the fate of the big three automakers. "Wow, what makes them exempt from reality?…

Just how bad is the economy? ABC's "World News with Charles Gibson" went all the way to Edwardsburg, Mich. to find out.  The Dec. 18 broadcast of "World News" highlighted a new economic indicator - the increase in the number of people willing to lend their body to science for money. "We're going to turn next to some of the extreme measures that some Americans are taking because of the…

Full disclosure, you can take the day off. CBS's "The Early Show" included a statement in its Dec. 18 report on the Big 3 bailout from "auto industry analyst," Dan McGinn. Letting the massive car companies fail "would be like 10 Katrinas hitting America at the same time," McGinn asserted. "The American public understands that." What the report didn't say is that McGinn is also an adviser…

At the top of Monday’s CBS Early Show, co-host Harry Smith teased an upcoming story about a protest by laid off workers at a Chicago factory: "Fighting back, workers stage a protest after being laid off, refusing to leave their Chicago factory until their demands are met...We'll take you there live and hear what they're fighting for." Later, co-host Maggie Rodriguez interviewed Leah Fried of the…

The failure of American media to properly vet the political beliefs of Barack Obama during the just concluded presidential campaign was on full display Sunday when the president-elect made clear just how much of a socialist he really is, and did so with nary a challenge from "Meet the Press" moderator Tom Brokaw.Makes you wonder what the results might have been on November 4 if the press had done…

Those who thought that President-elect Obama's pre-Thanksgiving promise to "create or save jobs," appropriately satirized by Mark Finkelstein at NewsBusters on November 24, might have been another one of the Oh-So-(in)Articulate One's "inartful" statements should know that it has become standard fare in Obama speeches.In related news, Uncle Sam told us Friday that over 136 million seasonally…

In today's coverage of Uncle Sam's Employment Situation Report, the Associated Press's Jeannine Aversa showed no real curiosity as to why November's seasonally adjusted job loss was so much higher than September's or October's. There's a reason for that.  I have noted for quite a while (previous NB-posted examples are here, here, and here) that the business press, led by AP, has repeatedly and…

When Federal Reserve Chairman Ben Bernanke speaks, Wall Street listens - and investors should beware. The Dow Jones Industrial Average (DJIA) has lost over 2,500 points on days he has spoken, including three of the worst point losses ever. Today's drop in the Dow of 215 points is the 14th time out of the last 20 times the Dow has lost ground on a Bernanke has spoken over the past six months.…

Just give us the money and nobody gets hurt. That was the warning from the mayor of Lansing, Mich., on CBS's "The Early Show" Dec. 2. "You know this is a sure prescription to go from recession to depression if you allow this auto industry, our manufacturing prowess, to fall by the wayside," Virg Bernero warned: This industry is too important, not just to Lansing, Mich., but to the whole…

Do as I say, not as I do.That appears to be Jim Cramer's philosophy. The CNBC "Mad Monday" host told NBC "Today" show viewers Dec. 2 that comparisons between the current economy and the Great Depression were inappropriate. "[T]hat's got to be taken off the table," Cramer told "Today" host Meredith Vieira. "There have been enough things done by this government to absolutely preclude that. I,…

On Sunday’s Chris Matthews Show, host Matthews led the panel in a discussion over whether conservatives would choose to cooperate with the Obama administration in making "historic changes" to repair the economy, rather than stand in opposition to his programs. The premise of the discussion seemed to be that times are too serious for conservatives to dare dissent from Obama’s plans. At one point,…

At this time of year, columns like Derrick Z. Jackson's of today condemning the materialism of the Christmas shopping season are as traditional as Budweiser's Clydesdale-drawn sleigh commercial.  And part of me is sympathetic with Jackson's call for people to spurn the malls and curtail their gift-giving budgets.  But this of all years, did the Boston Globe columnist consider the disastrous…